Siemens Healthineers CEO and HR chief got big pay increases

A photo of Siemens Healthineers CEO Bernd Montag.

Siemens Healthineers CEO Bernd Montag [Photo courtesy of Siemens Healthineers]

Siemens Healthineers reported a big increase in total compensation for its CEO and pay increases for two other company leaders in a recent disclosure.

Recruiting and retaining top talent — both at the executive and engineering level — is crucial in the medtech industry, but employee compensation is kept secret in most cases. Medical Design & Outsourcing tracks and analyzes these pay figures when disclosed by major device developers and manufacturers.

Erlangen, Germany-based Siemens Healthineers is the world’s fourth-largest medical device company, according to our 2025 Medtech Big 100 ranking. That ranking was based on the company’s fiscal 2024 revenue of $23.4 billion. (This amount was converted from euros to U.S. dollars using standardized Federal Reserve rates for 2024.)

Siemens Healthineers reported $27.4 billion in revenue for fiscal 2025, up 10% when excluding currency changes and other noncomparables. (That revenue figure and the compensation figures below have been converted from euros to U.S. dollars using the exchange rate as of the end of the company’s fiscal year on Sept. 30, 2025.)

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Siemens Healthineers executive pay

A photo of Siemens Healthineers CFO Jochen Schmitz.

Siemens Healthineers CFO Jochen Schmitz [Photo courtesy of Siemens Healthineers]

Siemens Healthineers CEO Bernd Montag received $8.6 million in total compensation for fiscal 2025, up 13% from $7.6 million the year before.

Montag’s compensation included a $1.7 million salary, stock awards worth $4.6 million, a $1.7 million bonus, around $661,000 in pension contributions and costs and about $17,000 worth of fringe benefits.

Siemens Healthineers CFO Jochen Schmitz received $5 million in total compensation for fiscal 2025, up 6% from $4.7 million the year before.

Schmitz’s compensation included a $1 million salary, stock awards worth $2.7 million, a bonus of about $806,000, around $413,000 in pension contributions and costs and over $24,000 worth of fringe benefits.

A photo of Siemens Healthineers Chief Human Resources Officer Darleen Caron.

Siemens Healthineers Chief Human Resources Officer Darleen Caron [Photo courtesy of Siemens Healthineers]

Siemens Healthineers Chief Human Resources Officer Darleen Caron recieved $3.7 million in total compensation for fiscal 2025, up 68% from $2.2 million the year before.

Caron’s compensation included a salary of around $938,000, stock awards worth $1.6 million, a bonus worth about $756,300 and around $17,500 in fringe benefits. (She did not receive any stock awards in 2024, leading to her double-digit increase in total compensation for 2025.)

She also received around $375,000 instead of participating in the Siemens Healthineers Defined Contribution Benefit Plan.

Siemens Healthineers Managing Board member Elisabeth Staudinger received $2 million in total compensation for fiscal 2025. Staudinger’s compensation total remained relatively unchanged from the year before.

A photo of Siemens Healthineers Managing Board member Elisabeth Staudinger.

Siemens Healthineers Managing Board member Elisabeth Staudinger [Photo courtesy of Siemens Healthineers]

Staudinger’s compensation included a salary of around $938,000, a bonus worth around $732,000, about $30,000 in fringe benefits and around $314,000 in pension contributions and costs.

The four executives on the Siemens Healthineers managing board also received other compensation in the form of a group liability insurance policy in fiscal 2025. The policy covered personal liability risk if one of them were to be held liable for financial losses in the course of their work, the company said.

“The managing board’s compensation system is intended to promote the implementation of the company strategy as well as the value-creating and long-term development of the company while avoiding disproportionate risks,” Siemens Healthineers said in its disclosure. “To this end, the right incentives are to be set for the increase in earnings — measured by incentive-relevant adjusted basic earnings per share — and incentive-relevant comparable revenue growth, as well as for other relevant strategic topics aimed at the sustainable development of the company.”

Investors overwhelmingly approved the company’s compensation practices at the annual meeting in February.